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Collection Agency - Financial Regulation

A Collection Agency engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired it.

Featured Information

Required: Information on Business Activities
Advisory Notice: Change in Control - Requirement to Update Application Information (Word) - February 26, 2016
Unlicensed Consumer Loan and Prohibited "Payday" Loan Collection Activity (Word)

Laws and Rules

Applicants and licensees are expected to be knowledgeable about and in compliance with the Collection Agency law, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Code of Maryland Unannotated and Rules (Public Access) and Code of Maryland Regulations (COMAR).

Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.

Maryland Code Annotated, Business Regulations § 7-101 et seq. (Collection Agency Law)
Maryland Code Annotated, Commercial Law § 14-201 et seq. (Consumer Debt Collection)